Self-Regulatory Organizations; National Stock Exchange, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend Its Rules To Extend Pilot Program Regarding Clearly Erroneous Executions, 50533-50535 [2011-20642]

Download as PDF Federal Register / Vol. 76, No. 157 / Monday, August 15, 2011 / Notices burden on competition that is not necessary or appropriate in furtherance of the purposes of the Act. C. Self-Regulatory Organization’s Statement on Comments on the Proposed Rule Change Received From Members, Participants, or Others The Exchange neither solicited nor received comments on the proposal. Because the foregoing proposed rule change does not: (i) Significantly affect the protection of investors or the public interest; (ii) impose any significant burden on competition; and (iii) become operative for 30 days from the date on which it was filed, or such shorter time as the Commission may designate, it has become effective pursuant to Section 19(b)(3)(A) of the Act 9 and Rule 19b– 4(f)(6)(iii) thereunder.10 The Exchange has asked the Commission to waive the 30-day operative delay so that the proposal may become operative immediately upon filing. The Commission believes that waiving the 30-day operative delay is consistent with the protection of investors and the public interest because such waiver will allow the pilot program to continue uninterrupted and help ensure uniformity among the national securities exchanges and FINRA with respect to the treatment of clearly erroneous transactions.11 Accordingly, the Commission waives the 30-day operative delay requirement and designates the proposed rule change as operative upon filing with the Commission. At any time within 60 days of the filing of the proposed rule change, the Commission summarily may temporarily suspend such rule change if it appears to the Commission that such action is necessary or appropriate in the public interest, for the protection of investors, or otherwise in furtherance of the purposes of the Act. U.S.C. 78s(b)(3)(A). CFR 240.19b–4(f)(6)(iii). In addition, Rule 19b–4(f)(6)(iii) requires that a self-regulatory organization submit to the Commission written notice of its intent to file the proposed rule change, along with a brief description and text of the proposed rule change, at least five business days prior to the filing of the proposed rule change, or such shorter time as designated by the Commission. The Commission notes that the Exchange has satisfied this requirement. 11 For purposes only of waiving the 30-day operative delay, the Commission has considered the proposed rule’s impact on efficiency, competition, and capital formation. See 15 U.S.C. 78c(f). srobinson on DSK4SPTVN1PROD with NOTICES 10 17 VerDate Mar<15>2010 16:05 Aug 12, 2011 Jkt 223001 Interested persons are invited to submit written data, views, and arguments concerning the foregoing, including whether the proposed rule change is consistent with the Act. Comments may be submitted by any of the following methods: For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.12 Elizabeth M. Murphy, Secretary. [FR Doc. 2011–20641 Filed 8–12–11; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION Electronic Comments III. Date of Effectiveness of the Proposed Rule Change and Timing for Commission Action 9 15 IV. Solicitation of Comments 50533 • Use the Commission’s Internet comment form (https://www.sec.gov/ rules/sro.shtml); or • Send an e-mail to rulecomments@sec.gov. Please include File Number SR–CBOE–2011–077 on the subject line. Paper Comments • Send paper comments in triplicate to Elizabeth M. Murphy, Secretary, Securities and Exchange Commission, 100 F Street, NE., Washington, DC 20549–1090. [Release No. 34–65067; File No. SR–NSX– 2011–09] Self-Regulatory Organizations; National Stock Exchange, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend Its Rules To Extend Pilot Program Regarding Clearly Erroneous Executions August 9, 2011. Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (the ‘‘Act’’) 1 and Rule 19b–4 thereunder,2 notice is hereby given that on August 5, 2011, National Stock Exchange, Inc. All submissions should refer to File filed with the Securities and Exchange Number SR–CBOE–2011–077. This file Commission (‘‘Commission’’) the number should be included on the subject line if e-mail is used. To help the proposed rule change, as described in Items I and II below, which Items have Commission process and review your been prepared by the Exchange. The comments more efficiently, please use only one method. The Commission will Commission is publishing this notice to post all comments on the Commission’s solicit comment on the proposed rule change from interested persons. Internet Web site (https://www.sec.gov/ rules/sro.shtml). Copies of the I. Self-Regulatory Organization’s submission, all subsequent Statement of the Terms of Substance of amendments, all written statements the Proposed Rule Change with respect to the proposed rule National Stock Exchange, Inc. change that are filed with the (‘‘NSX®’’ or ‘‘Exchange’’) is proposing to Commission, and all written amend its rules to extend a certain pilot communications relating to the program regarding clearly erroneous proposed rule change between the executions. Commission and any person, other than The text of the proposed rule change those that may be withheld from the is available on the Exchange’s Web site public in accordance with the at https://www.nsx.com, at the principal provisions of 5 U.S.C. 552, will be office of the Exchange, and at the Commission’s Public Reference Room. available for Web site viewing and printing in the Commission’s Public II. Self-Regulatory Organization’s Reference Room, 100 F Street, NE., Statement of the Purpose of, and Washington, DC 20549, on official Statutory Basis for, the Proposed Rule business days between the hours of 10 Change a.m. and 3 p.m. Copies of such filing In its filing with the Commission, the also will be available for inspection and Exchange included statements copying at the principal office of CBOE. concerning the purpose of and basis for All comments received will be posted the proposed rule change and discussed without change; the Commission does any comments it received on the not edit personal identifying proposed rule change. The text of these information from submissions. You statements may be examined at the should submit only information that places specified in Item IV below. The you wish to make publicly available. All Exchange has prepared summaries, set submissions should refer to File forth in sections A, B, and C below, of Number SR–CBOE–2011–077 and 12 17 CFR 200.30–3(a)(12). should be submitted on or before 1 15 U.S.C. 78s(b)(1). September 6, 2011. PO 00000 2 17 Frm 00083 Fmt 4703 Sfmt 4703 E:\FR\FM\15AUN1.SGM CFR 240.19b–4. 15AUN1 50534 Federal Register / Vol. 76, No. 157 / Monday, August 15, 2011 / Notices the most significant parts of such statements. A. Self-Regulatory Organization’s Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change 1. Purpose With this rule change, the Exchange is proposing to extend the pilot program currently in effect regarding clearly erroneous executions under NSX Rule 11.19. Currently, unless otherwise extended or approved permanently, this pilot program will expire on August 11, 2011 or the date on which the limit up/ limit down mechanism to address extraordinary market volatility, if adopted, applies to the Circuit Breaker Securities as defined in Commentary .05 of Rule 11.20. The instant rule filing proposes to [sic] the pilot program until January 31, 2012. NSX Rule 11.19 (Clearly Erroneous Executions) was approved by the Securities and Exchange Commission (the ‘‘Commission’’) on September 10, 2010 on a pilot basis to end on December 10, 2010.3 The pilot program end date was subsequently extended until April 11, 2011.4 Similar rule changes were adopted by other markets in the national market system in a coordinated manner. During the pilot period, the Exchange, in conjunction with the Commission and other markets, has continued to assess the effectiveness of the pilot program. The pilot program end date was further extended until August 11, 2011 or the date on which a limit up/limit down mechanism to address extraordinary market volatility, if adopted applies.5 The Exchange, in consultation with other markets and the Commission, has determined that the duration of this pilot program should be extended until January 31, 2012. Accordingly, pursuant to the instant rule filing, the expiration date of the pilot program referenced in the first two sentences of Rule 11.19 is proposed to be changed from ‘‘the earlier of August 11, 2011 or the date on which the limit up/limit down mechanism, if adopted, applies to the Circuit Breaker Securities’’ to ‘‘January 31, 2012.’’ srobinson on DSK4SPTVN1PROD with NOTICES 2. Statutory Basis The Exchange believes that the proposed rule change is consistent with 3 See Securities Exchange Act Release No. 62886 (September 10, 2010), 75 FR 56613 (September 16, 2010) (SR–NSX–2010–07). 4 See Securities Exchange Act Release No. 63484 (December 9, 2010), 75 FR 78330 (December 15, 2010) (SR–NSX–2010–16). 5 See Securities Exchange Act Release No. 34– 64242 (April 7, 2011), 76 FR 20763 (April 15, 2011) (SR–NSX–2011–05). VerDate Mar<15>2010 16:05 Aug 12, 2011 Jkt 223001 the provisions of Section 6(b) and Section 11A of the Act,6 in general, and Section 6(b)(5) of the Act,7 in particular, in that it is designed, among other things, to promote clarity, transparency and full disclosure, in so doing, to prevent fraudulent and manipulative acts and practices, to promote just and equitable principles of trade, to remove impediments to and perfect the mechanism of a free and open market and a national market system, and, in general, to protect investors and the public interest. Moreover, the proposed rule change is not discriminatory in that it uniformly applies to all ETP Holders. B. Self-Regulatory Organization’s Statement on Burden on Competition The Exchange does not believe that the proposed rule change will impose any inappropriate burden on competition. C. Self-Regulatory Organization’s Statement on Comments on the Proposed Rule Change Received From Members, Participants or Others The Exchange has neither solicited nor received written comments on the proposed rule change. III. Date of Effectiveness of the Proposed Rule Change and Timing for Commission Action Because the foregoing proposed rule change does not: (i) Significantly affect the protection of investors or the public interest; (ii) impose any significant burden on competition; and (iii) become operative for 30 days from the date on which it was filed, or such shorter time as the Commission may designate, it has become effective pursuant to Section 19(b)(3)(A) of the Act 8 and Rule 19b– 4(f)(6)(iii) thereunder.9 The Exchange has asked the Commission to waive the 30-day operative delay so that the proposal may become operative immediately upon filing. The Commission believes that waiving the 30-day operative delay is consistent with the protection of investors and the public interest because such waiver will allow the pilot program to continue uninterrupted and help ensure 6 15 U.S.C. 78f(b) and 15 U.S.C. 78k–1, respectively. 7 15 U.S.C. 78f(b)(5). 8 15 U.S.C. 78s(b)(3)(A). 9 17 CFR 240.19b–4(f)(6)(iii). In addition, Rule 19b–4(f)(6)(iii) requires that a self-regulatory organization submit to the Commission written notice of its intent to file the proposed rule change, along with a brief description and text of the proposed rule change, at least five business days prior to the filing of the proposed rule change, or such shorter time as designated by the Commission. The Commission notes that the Exchange has satisfied this requirement. PO 00000 Frm 00084 Fmt 4703 Sfmt 4703 uniformity among the national securities exchanges and FINRA with respect to the treatment of clearly erroneous transactions.10 Accordingly, the Commission waives the 30-day operative delay requirement and designates the proposed rule change as operative upon filing with the Commission. At any time within 60 days of the filing of the proposed rule change, the Commission summarily may temporarily suspend such rule change if it appears to the Commission that such action is necessary or appropriate in the public interest, for the protection of investors, or otherwise in furtherance of the purposes of the Act. IV. Solicitation of Comments Interested persons are invited to submit written data, views, and arguments concerning the foregoing, including whether the proposed rule change is consistent with the Act. Comments may be submitted by any of the following methods: Electronic Comments • Use the Commission’s Internet comment form (https://www.sec.gov/ rules/sro.shtml); or • Send an e-mail to rulecomments@sec.gov. Please include File Number SR–NSX–2011–09 on the subject line. Paper Comments • Send paper comments in triplicate to Elizabeth M. Murphy, Secretary, Securities and Exchange Commission, 100 F Street, NE., Washington, DC 20549–1090. All submissions should refer to File Number SR–NSX–2011–09. This file number should be included on the subject line if e-mail is used. To help the Commission process and review your comments more efficiently, please use only one method. The Commission will post all comments on the Commission’s Internet Web site (https://www.sec.gov/ rules/sro.shtml). Copies of the submission, all subsequent amendments, all written statements with respect to the proposed rule change that are filed with the Commission, and all written communications relating to the proposed rule change between the Commission and any person, other than those that may be withheld from the public in accordance with the provisions of 5 U.S.C. 552, will be 10 For purposes only of waiving the 30-day operative delay, the Commission has considered the proposed rule’s impact on efficiency, competition, and capital formation. See 15 U.S.C. 78c(f). E:\FR\FM\15AUN1.SGM 15AUN1 Federal Register / Vol. 76, No. 157 / Monday, August 15, 2011 / Notices available for Web site viewing and printing in the Commission’s Public Reference Room, 100 F Street, NE., Washington, DC 20549, on official business days between the hours of 10 a.m. and 3 p.m. Copies of such filing also will be available for inspection and copying at the principal office of NSX. All comments received will be posted without change; the Commission does not edit personal identifying information from submissions. You should submit only information that you wish to make publicly available. All submissions should refer to File Number SR–NSX–2011–09 and should be submitted on or before September 6, 2011. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.11 Elizabeth M. Murphy, Secretary. include the following areas as adversely affected by the disaster. Primary Counties: Craig, Nowata. All other information in the original declaration remains unchanged. SMALL BUSINESS ADMINISTRATION (Catalog of Federal Domestic Assistance Numbers 59002 and 59008). AGENCY: James E. Rivera, Associate Administrator for Disaster Assistance. [FR Doc. 2011–20650 Filed 8–12–11; 8:45 am] BILLING CODE 8025–01–P SMALL BUSINESS ADMINISTRATION [Disaster Declaration #12653 and #12654] North Dakota Disaster Number ND– 00024 [FR Doc. 2011–20642 Filed 8–12–11; 8:45 am] U.S. Small Business Administration. ACTION: Amendment 4. BILLING CODE 8011–01–P SUMMARY: SMALL BUSINESS ADMINISTRATION [Disaster Declaration #12647 and #12648] Oklahoma Disaster Number OK–00052 U.S. Small Business Administration. ACTION: Amendment 1. AGENCY: This is an amendment of the Presidential declaration of a major disaster for Public Assistance Only for the State of Oklahoma (FEMA–1989– DR), dated 06/21/2011. Incident: Severe Storms, Tornadoes, Straight-line Winds, and Flooding. Incident Period: 05/22/2011 through 05/25/2011. Effective Date: 08/03/2011. Physical Loan Application Deadline Date: 08/22/2011. Economic Injury (EIDL) Loan Application Deadline Date: 03/21/2012. ADDRESSES: Submit completed loan applications to: U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155. FOR FURTHER INFORMATION CONTACT: A Escobar, Office of Disaster Assistance, U.S. Small Business Administration, 409 3rd Street, SW., Suite 6050, Washington, DC 20416. SUPPLEMENTARY INFORMATION: The notice of the President’s major disaster declaration for Private Non-Profit organizations in the State of Oklahoma, dated 06/21/2011, is hereby amended to srobinson on DSK4SPTVN1PROD with NOTICES SUMMARY: AGENCY: This is an amendment of the Presidential declaration of a major disaster for the State of North Dakota (FEMA–1981–DR), dated 06/24/2011. Incident: Flooding. Incident Period: 02/14/2011 through 07/20/2011. Effective Date: 08/04/2011. Physical Loan Application Deadline Date: 08/23/2011. EIDL Loan Application Deadline Date: 03/21/2012. ADDRESSES: Submit completed loan applications to: U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155. FOR FURTHER INFORMATION CONTACT: A. Escobar, Office of Disaster Assistance, U.S. Small Business Administration, 409 3rd Street, SW., Suite 6050, Washington, DC 20416. SUPPLEMENTARY INFORMATION: The notice of the Presidential disaster declaration for the State of North Dakota, dated 06/ 24/2011 is hereby amended to include the following areas as adversely affected by the disaster: Primary Counties: Physical Damage and Economic Injury Loans): Benson. Contiguous Counties: (Economic Injury Loans Only): North Dakota: Eddy, Wells. All other information in the original declaration remains unchanged. (Catalog of Federal Domestic Assistance Numbers 59002 and 59008) Joseph P Loddo, Acting Associate Administrator for Disaster Assistance. [FR Doc. 2011–20651 Filed 8–12–11; 8:45 am] 11 17 CFR 200.30–3(a)(12). VerDate Mar<15>2010 16:05 Aug 12, 2011 BILLING CODE 8025–01–P Jkt 223001 50535 PO 00000 Frm 00085 Fmt 4703 Sfmt 4703 [Disaster Declaration #12586 and #12587] North Dakota Disaster Number ND– 00025 U.S. Small Business Administration. ACTION: Amendment 5. This is an amendment of the Presidential declaration of a major disaster for Public Assistance Only for the State of North Dakota (FEMA–1981– DR), dated 05/10/2011. Incident: Flooding. Incident Period: 02/14/2011 through 07/20/2011. Effective Date: 08/04/2011. Physical Loan Application Deadline Date: 07/11/2011. Economic Injury (EIDL) Loan Application Deadline Date: 02/10/2012. ADDRESSES: Submit completed loan applications to: U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155. FOR FURTHER INFORMATION CONTACT: A Escobar, Office of Disaster Assistance, U.S. Small Business Administration, 409 3rd Street, SW., Suite 6050, Washington, DC 20416. SUPPLEMENTARY INFORMATION: The notice of the President’s major disaster declaration for Private Non-Profit organizations in the State of North Dakota, dated 05/10/2011, is hereby amended to include the following areas as adversely affected by the disaster. Primary Counties: Sioux, Standing Rock Indian Reservation. All other information in the original declaration remains unchanged. SUMMARY: (Catalog of Federal Domestic Assistance Numbers 59002 and 59008) Joseph P. Loddo, Acting Associate Administrator for Disaster Assistance. [FR Doc. 2011–20653 Filed 8–12–11; 8:45 am] BILLING CODE 8025–01–P DEPARTMENT OF STATE [Public Notice: 7555] Waiver of Restriction on Assistance to Lebanon Pursuant to Section 7086(c)(2) of the Department of State, Foreign Operations, and Related Programs Appropriations Act, 2010 (Div. F, Pub. L. 111–117), as carried forward by the Full-Year Continuing Appropriations Act, 2011 (Div. B, Pub. L. 112–10) (‘‘the Act’’), and Department of State E:\FR\FM\15AUN1.SGM 15AUN1

Agencies

[Federal Register Volume 76, Number 157 (Monday, August 15, 2011)]
[Notices]
[Pages 50533-50535]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2011-20642]


-----------------------------------------------------------------------

SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-65067; File No. SR-NSX-2011-09]


Self-Regulatory Organizations; National Stock Exchange, Inc.; 
Notice of Filing and Immediate Effectiveness of Proposed Rule Change To 
Amend Its Rules To Extend Pilot Program Regarding Clearly Erroneous 
Executions

August 9, 2011.
    Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 
(the ``Act'') \1\ and Rule 19b-4 thereunder,\2\ notice is hereby given 
that on August 5, 2011, National Stock Exchange, Inc. filed with the 
Securities and Exchange Commission (``Commission'') the proposed rule 
change, as described in Items I and II below, which Items have been 
prepared by the Exchange. The Commission is publishing this notice to 
solicit comment on the proposed rule change from interested persons.
---------------------------------------------------------------------------

    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
---------------------------------------------------------------------------

I. Self-Regulatory Organization's Statement of the Terms of Substance 
of the Proposed Rule Change

    National Stock Exchange, Inc. (``NSX[supreg]'' or ``Exchange'') is 
proposing to amend its rules to extend a certain pilot program 
regarding clearly erroneous executions.
    The text of the proposed rule change is available on the Exchange's 
Web site at https://www.nsx.com, at the principal office of the 
Exchange, and at the Commission's Public Reference Room.

II. Self-Regulatory Organization's Statement of the Purpose of, and 
Statutory Basis for, the Proposed Rule Change

    In its filing with the Commission, the Exchange included statements 
concerning the purpose of and basis for the proposed rule change and 
discussed any comments it received on the proposed rule change. The 
text of these statements may be examined at the places specified in 
Item IV below. The Exchange has prepared summaries, set forth in 
sections A, B, and C below, of

[[Page 50534]]

the most significant parts of such statements.

A. Self-Regulatory Organization's Statement of the Purpose of, and 
Statutory Basis for, the Proposed Rule Change

1. Purpose
    With this rule change, the Exchange is proposing to extend the 
pilot program currently in effect regarding clearly erroneous 
executions under NSX Rule 11.19. Currently, unless otherwise extended 
or approved permanently, this pilot program will expire on August 11, 
2011 or the date on which the limit up/limit down mechanism to address 
extraordinary market volatility, if adopted, applies to the Circuit 
Breaker Securities as defined in Commentary .05 of Rule 11.20. The 
instant rule filing proposes to [sic] the pilot program until January 
31, 2012.
    NSX Rule 11.19 (Clearly Erroneous Executions) was approved by the 
Securities and Exchange Commission (the ``Commission'') on September 
10, 2010 on a pilot basis to end on December 10, 2010.\3\ The pilot 
program end date was subsequently extended until April 11, 2011.\4\ 
Similar rule changes were adopted by other markets in the national 
market system in a coordinated manner. During the pilot period, the 
Exchange, in conjunction with the Commission and other markets, has 
continued to assess the effectiveness of the pilot program. The pilot 
program end date was further extended until August 11, 2011 or the date 
on which a limit up/limit down mechanism to address extraordinary 
market volatility, if adopted applies.\5\ The Exchange, in consultation 
with other markets and the Commission, has determined that the duration 
of this pilot program should be extended until January 31, 2012. 
Accordingly, pursuant to the instant rule filing, the expiration date 
of the pilot program referenced in the first two sentences of Rule 
11.19 is proposed to be changed from ``the earlier of August 11, 2011 
or the date on which the limit up/limit down mechanism, if adopted, 
applies to the Circuit Breaker Securities'' to ``January 31, 2012.''
---------------------------------------------------------------------------

    \3\ See Securities Exchange Act Release No. 62886 (September 10, 
2010), 75 FR 56613 (September 16, 2010) (SR-NSX-2010-07).
    \4\ See Securities Exchange Act Release No. 63484 (December 9, 
2010), 75 FR 78330 (December 15, 2010) (SR-NSX-2010-16).
    \5\ See Securities Exchange Act Release No. 34-64242 (April 7, 
2011), 76 FR 20763 (April 15, 2011) (SR-NSX-2011-05).
---------------------------------------------------------------------------

2. Statutory Basis
    The Exchange believes that the proposed rule change is consistent 
with the provisions of Section 6(b) and Section 11A of the Act,\6\ in 
general, and Section 6(b)(5) of the Act,\7\ in particular, in that it 
is designed, among other things, to promote clarity, transparency and 
full disclosure, in so doing, to prevent fraudulent and manipulative 
acts and practices, to promote just and equitable principles of trade, 
to remove impediments to and perfect the mechanism of a free and open 
market and a national market system, and, in general, to protect 
investors and the public interest. Moreover, the proposed rule change 
is not discriminatory in that it uniformly applies to all ETP Holders.
---------------------------------------------------------------------------

    \6\ 15 U.S.C. 78f(b) and 15 U.S.C. 78k-1, respectively.
    \7\ 15 U.S.C. 78f(b)(5).
---------------------------------------------------------------------------

B. Self-Regulatory Organization's Statement on Burden on Competition

    The Exchange does not believe that the proposed rule change will 
impose any inappropriate burden on competition.

C. Self-Regulatory Organization's Statement on Comments on the Proposed 
Rule Change Received From Members, Participants or Others

    The Exchange has neither solicited nor received written comments on 
the proposed rule change.

III. Date of Effectiveness of the Proposed Rule Change and Timing for 
Commission Action

    Because the foregoing proposed rule change does not: (i) 
Significantly affect the protection of investors or the public 
interest; (ii) impose any significant burden on competition; and (iii) 
become operative for 30 days from the date on which it was filed, or 
such shorter time as the Commission may designate, it has become 
effective pursuant to Section 19(b)(3)(A) of the Act \8\ and Rule 19b-
4(f)(6)(iii) thereunder.\9\ The Exchange has asked the Commission to 
waive the 30-day operative delay so that the proposal may become 
operative immediately upon filing. The Commission believes that waiving 
the 30-day operative delay is consistent with the protection of 
investors and the public interest because such waiver will allow the 
pilot program to continue uninterrupted and help ensure uniformity 
among the national securities exchanges and FINRA with respect to the 
treatment of clearly erroneous transactions.\10\ Accordingly, the 
Commission waives the 30-day operative delay requirement and designates 
the proposed rule change as operative upon filing with the Commission.
---------------------------------------------------------------------------

    \8\ 15 U.S.C. 78s(b)(3)(A).
    \9\ 17 CFR 240.19b-4(f)(6)(iii). In addition, Rule 19b-
4(f)(6)(iii) requires that a self-regulatory organization submit to 
the Commission written notice of its intent to file the proposed 
rule change, along with a brief description and text of the proposed 
rule change, at least five business days prior to the filing of the 
proposed rule change, or such shorter time as designated by the 
Commission. The Commission notes that the Exchange has satisfied 
this requirement.
    \10\ For purposes only of waiving the 30-day operative delay, 
the Commission has considered the proposed rule's impact on 
efficiency, competition, and capital formation. See 15 U.S.C. 
78c(f).
---------------------------------------------------------------------------

    At any time within 60 days of the filing of the proposed rule 
change, the Commission summarily may temporarily suspend such rule 
change if it appears to the Commission that such action is necessary or 
appropriate in the public interest, for the protection of investors, or 
otherwise in furtherance of the purposes of the Act.

IV. Solicitation of Comments

    Interested persons are invited to submit written data, views, and 
arguments concerning the foregoing, including whether the proposed rule 
change is consistent with the Act. Comments may be submitted by any of 
the following methods:

Electronic Comments

     Use the Commission's Internet comment form (https://www.sec.gov/rules/sro.shtml); or
     Send an e-mail to rule-comments@sec.gov. Please include 
File Number SR-NSX-2011-09 on the subject line.

Paper Comments

     Send paper comments in triplicate to Elizabeth M. Murphy, 
Secretary, Securities and Exchange Commission, 100 F Street, NE., 
Washington, DC 20549-1090.

All submissions should refer to File Number SR-NSX-2011-09. This file 
number should be included on the subject line if e-mail is used. To 
help the Commission process and review your comments more efficiently, 
please use only one method. The Commission will post all comments on 
the Commission's Internet Web site (https://www.sec.gov/rules/sro.shtml). Copies of the submission, all subsequent amendments, all 
written statements with respect to the proposed rule change that are 
filed with the Commission, and all written communications relating to 
the proposed rule change between the Commission and any person, other 
than those that may be withheld from the public in accordance with the 
provisions of 5 U.S.C. 552, will be

[[Page 50535]]

available for Web site viewing and printing in the Commission's Public 
Reference Room, 100 F Street, NE., Washington, DC 20549, on official 
business days between the hours of 10 a.m. and 3 p.m. Copies of such 
filing also will be available for inspection and copying at the 
principal office of NSX. All comments received will be posted without 
change; the Commission does not edit personal identifying information 
from submissions. You should submit only information that you wish to 
make publicly available. All submissions should refer to File Number 
SR-NSX-2011-09 and should be submitted on or before September 6, 2011.

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\11\
---------------------------------------------------------------------------

    \11\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------

Elizabeth M. Murphy,
Secretary.
[FR Doc. 2011-20642 Filed 8-12-11; 8:45 am]
BILLING CODE 8011-01-P
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.